Wales on brink of business boom

Wales could be on the brink of a business boom according to a report by the Princes Trust and a bank. Their report found almost a quarter of young people here expect to own their own business in the next 5 years.

Live updates

Self-employment attitudes changing

"Traditionally Britain has lagged behind other countries in terms of the number of young entrepreneurs, but today's report suggests that young people's attitudes to self-employment are changing.

"It is important that the next generation of young entrepreneurs get the support they need from organisations like The Prince's Trust. In the current climate, helping young people to beat unemployment and set up businesses that employ other people can only be a good thing for the UK economy."

– Professor Michael Hay, London Business School

Wales on 'brink of youth business boom'

Wales could be on the brink of a youth business boom, according to a new report. A study by the Prince's Trust and RBS shows that a quarter of Wales' young people believe they will be self-employed in the future. Around a quarter also said they expect to be their own boss in the next five years.

Twenty-five percent of young people included in the survey also say they are thinking of setting up their own business.

"This research reveals an increasingly entrepreneurial mood among young people in Wales. Five years on from the start of the recession, youth unemployment remains high and many are seeing self-employment as a way to break the cycle of joblessness.

"Setting up in business can be tough - but at The Prince's Trust we have a 30-year track record of helping disadvantaged young people succeed in work and self-employment, no matter what their background. It is critical we nurture young people's passion for business and invest in the next generation."

– Lesley Kirkpatrick, director of The Prince's Trust in Wales


Back to top